Shoe Carnival, Inc. (SCVL) Raised to Buy at Zacks Investment Research
Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $22.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.00% from the company’s previous close.
According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “
Several other equities research analysts also recently issued reports on the stock. UBS AG upgraded shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday. Jefferies Group LLC restated a “hold” rating and set a $20.00 price objective (down from $21.00) on shares of Shoe Carnival in a research report on Thursday, August 31st. Susquehanna Bancshares Inc raised their price objective on shares of Shoe Carnival from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 31st. Wedbush began coverage on shares of Shoe Carnival in a research report on Monday, August 14th. They set an “outperform” rating and a $21.00 price objective for the company. Finally, BidaskClub downgraded shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $21.57.
Shares of Shoe Carnival (SCVL) opened at 19.13 on Wednesday. Shoe Carnival has a 1-year low of $15.08 and a 1-year high of $31.79. The company has a market capitalization of $325.57 million, a price-to-earnings ratio of 15.82 and a beta of 0.93. The stock has a 50 day moving average price of $17.66 and a 200 day moving average price of $20.94.
Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, August 30th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The firm had revenue of $235.10 million during the quarter, compared to the consensus estimate of $232.26 million. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.22 earnings per share. Analysts forecast that Shoe Carnival will post $1.43 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Shoe Carnival in the second quarter valued at approximately $175,000. Goldman Sachs Group Inc. raised its position in shares of Shoe Carnival by 140.8% in the second quarter. Goldman Sachs Group Inc. now owns 33,355 shares of the company’s stock valued at $697,000 after buying an additional 19,501 shares in the last quarter. Petrus Trust Company LTA acquired a new stake in shares of Shoe Carnival in the second quarter valued at approximately $352,000. OxFORD Asset Management LLP acquired a new stake in shares of Shoe Carnival in the second quarter valued at approximately $539,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Shoe Carnival in the second quarter valued at approximately $1,233,000. Institutional investors own 62.74% of the company’s stock.
About Shoe Carnival
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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